Aluminium die casting machinery market to grow at CAGR 7% during 2016-2020

The global aluminium die casting machinery market is slated to grow at a CAGR of 7 per cent during the period 2016-2020, indicates data released in a recently published market research report.

The aluminium die casting machinery is used to produce cast aluminium parts for applications in various end-user sectors, namely automotive, aerospace and defense, marine, telecommunications, and others, such as electronic appliances and renewable energy sectors. Aluminium cast parts offer several benefits over other types of nonferrous metals:

• The use of aluminium for die cast makes it possible to attain complex designs and forms
• Production rate is higher and faster than other nonferrous alloys and metals
• Aluminium castings possess the strength of steel cast parts but are lighter in weight

The report, which covers the present scenario and the growth prospects of the global aluminium die casting machinery market for 2016-2020, suggests that there is 75 per cent capacity utilization in the casting facilities in key countries in all the geographic regions namely- APAC, Americas, and Europe, the Middle East and Africa.

Growing market for lightweight vehicles to reduce CO2 emissions has been identified in the report as the major growth driver for the global aluminium die casting machinery market.